The Bitcoin bulls are clearly in charge. Bitcoin (BTC), the world’s most popular crypto, has rocketed by more than 30% since the election of former President Donald Trump, a digital asset advocate. As Republicans control both the House and Senate—along with the Executive branch —anticipation of legislation providing crypto clarity is expected in early 2025.
While Bitcoin has always lent itself to predictions of future value, sometimes outlandish expectations, Jean Van Eck, CEO of his namesake firm, joined CNBC today to add his hat in the ring of expectations for Bitcoin in the coming years. Jan Van Eck expects Bitcoin to top a whopping $400,000 by 2030. He goes even further, predicting $3 million by 2050.
VanEck operates a Bitcoin ETF and was the first firm to file for the product. Jan Van Eck believes that institutions and more traditional avenues of investment are just starting to test the crypto waters, and this is why he expects Bitcoin to deliver a 4X return by the end of the decade. Also, if the US establishes a Bitcoin reserve, this will add fuel to the fire.
Bitcoin is currently trading at around $94,000 – near an all-time high. On November 5th, Bitcoin was trading at under $70,000.
